Essential Properties Realty Trust (NYSE:EPRT) Price Target Increased to $33.00 by Analysts at Truist Financial

Essential Properties Realty Trust (NYSE:EPRT) had its price objective hoisted by Truist Financial from $29.00 to $33.00 in a report released on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently commented on EPRT. The Goldman Sachs Group initiated coverage on shares of Essential Properties Realty Trust in a research report on Friday, June 28th. They set a buy rating and a $33.00 price target on the stock. UBS Group raised their price target on shares of Essential Properties Realty Trust from $30.00 to $35.00 and gave the company a buy rating in a research report on Thursday, July 18th. Stifel Nicolaus raised their price target on shares of Essential Properties Realty Trust from $31.25 to $32.00 and gave the company a buy rating in a research report on Thursday, July 25th. Scotiabank increased their price objective on shares of Essential Properties Realty Trust from $26.00 to $28.00 and gave the company a sector perform rating in a research note on Wednesday, May 29th. Finally, Mizuho increased their price objective on shares of Essential Properties Realty Trust from $26.00 to $29.00 and gave the company a buy rating in a research note on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $30.38.

Essential Properties Realty Trust Trading Up 1.7 %

NYSE EPRT traded up $0.49 on Monday, reaching $28.83. The company had a trading volume of 2,508,216 shares, compared to its average volume of 1,386,950. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of 23.05, a P/E/G ratio of 2.26 and a beta of 1.35. Essential Properties Realty Trust has a fifty-two week low of $20.49 and a fifty-two week high of $31.23. The business has a 50 day moving average of $28.36 and a two-hundred day moving average of $26.56. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.90 and a quick ratio of 4.90.

Essential Properties Realty Trust (NYSE:EPRT) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.13). The company had revenue of $109.30 million during the quarter, compared to analyst estimates of $102.99 million. Essential Properties Realty Trust had a net margin of 48.12% and a return on equity of 6.28%. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.41 earnings per share. Analysts forecast that Essential Properties Realty Trust will post 1.69 EPS for the current year.

Essential Properties Realty Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.02%. This is a positive change from Essential Properties Realty Trust’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, June 28th. Essential Properties Realty Trust’s payout ratio is currently 94.31%.

Insider Activity at Essential Properties Realty Trust

In related news, CEO Peter M. Mavoides sold 1,200 shares of Essential Properties Realty Trust stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $28.00, for a total value of $33,600.00. Following the completion of the transaction, the chief executive officer now directly owns 513,264 shares in the company, valued at approximately $14,371,392. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Essential Properties Realty Trust news, CEO Peter M. Mavoides sold 12,712 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $28.03, for a total value of $356,317.36. Following the completion of the transaction, the chief executive officer now directly owns 500,552 shares of the company’s stock, valued at approximately $14,030,472.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Peter M. Mavoides sold 1,200 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $28.00, for a total transaction of $33,600.00. Following the completion of the transaction, the chief executive officer now directly owns 513,264 shares of the company’s stock, valued at $14,371,392. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,775 shares of company stock worth $964,484. Corporate insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Heritage Wealth Advisors lifted its holdings in shares of Essential Properties Realty Trust by 71.4% during the 4th quarter. Heritage Wealth Advisors now owns 1,200 shares of the company’s stock worth $31,000 after acquiring an additional 500 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Essential Properties Realty Trust by 1.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 33,614 shares of the company’s stock worth $859,000 after acquiring an additional 540 shares during the last quarter. Thoroughbred Financial Services LLC lifted its holdings in shares of Essential Properties Realty Trust by 5.3% during the 1st quarter. Thoroughbred Financial Services LLC now owns 12,879 shares of the company’s stock worth $343,000 after acquiring an additional 654 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of Essential Properties Realty Trust by 0.3% during the 1st quarter. New York State Teachers Retirement System now owns 230,417 shares of the company’s stock worth $6,143,000 after acquiring an additional 658 shares during the last quarter. Finally, Foundry Partners LLC lifted its holdings in shares of Essential Properties Realty Trust by 4.1% during the 4th quarter. Foundry Partners LLC now owns 17,174 shares of the company’s stock worth $439,000 after acquiring an additional 670 shares during the last quarter. 96.98% of the stock is owned by institutional investors.

About Essential Properties Realty Trust

Essential Properties Realty Trust, Inc, a real estate company, acquires, owns, and manages single-tenant properties in the United States. The company leases its properties to middle-market companies, such as restaurants, car washes, automotive services, medical and dental services, convenience stores, equipment rental, entertainment, early childhood education, grocery, and health and fitness on a long-term basis.